Freedom Industries bankruptcy filing

Co. blamed for W.Va. spill files for bankruptcy – CBS 5 – KPHO.

Things to consider here- Freedom Industries only bought the place last month.

That’s making me hesitant to blame them.  The previous owners could have concealed problems, not volunteering information and even actively covering up issues to ensure they got their payday.  A month actually on their watch isn’t much time to identify and remedy problems.

Also, spend a ton of money, and then have a major accident like this? Yeah, that’s going to be disastrous financially.  I’m not sure I can get behind the hate crowd on them using bankruptcy as a shield from debts.  This could be a situation where they really physically cannot cover their debts.

Of course, if there’s anything out there to suggest that they failed to do due diligence prior to the purchase, things start looking much worse for Freedom Industries IMO.  Anyone know of any such information?

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